US tariff unlikely to curb Phl export growth - DTI

The Department of Trade and Industry (DTI) is hopeful of seeing sustained growth in the country's exports, even as the United States' reciprocal tariff has already taken effect.

- By LOUELLA DESIDERIO

"We're hoping for that and we're also really pushing for that," Trade Secretary Cristina Roque told reporters yesterday, noting that the DTI has been taking active steps to encourage exporters to diversify markets.

Latest data from the Philippine Statistics Authority showed that the country's exports of goods rose by 26 percent to $7.02 billion in June from $5.57 billion in the same month last year.

From January to June, Philippine merchandise exports went up by 13 percent to $41.24 billion from $36.44 billion in the same period last year.

Earlier, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the higher exports may be due to frontloading before the higher US import tariff took effect.

Since Aug. 7, Philippine exports to the US have been imposed a 19-percent reciprocal tariff.